Coal India is exploring rare-earth mining partnerships across Australia, Russia, Argentina, Chile and several African countries as India steps up efforts to reduce its dependence on China-controlled supply chains for critical minerals.
This is according to information contained in a Reuters report citing comments from senior executives of Bharat Coking Coal Ltd (BCCL), a coking coal-focused subsidiary of Coal India.
The development comes amid rising global concern following China’s expansion of export restrictions on rare-earth minerals late last year.
Rare-earth elements are essential inputs for industries such as automobiles, electronics, defence and renewable energy, and China currently dominates global supply, prompting countries like India to accelerate diversification strategies.
Speaking to Reuters on Thursday, Chairman and Managing Director of BCCL, Manoj Kumar Agarwal, said Coal India is still in the early stages of its rare-earth expansion plans, both domestically and internationally.
“In our country and in foreign countries also, we are going to invest; we are going to explore; we are also collaborating with other companies for rare earth metals. It is in the starting stage,” Agarwal said.
According to him, Coal India is pursuing overseas opportunities while also strengthening domestic collaborations. Within India, the company plans to work with state-owned firms such as Indian Rare Earths Ltd (IREL), Khanij Bidesh India Ltd and Hindustan Copper to explore and develop rare-earth assets.
The proposed partnerships will be funded using proceeds from BCCL’s $119 million initial public offering, which closed on Tuesday after being oversubscribed by nearly 147 times. .
The IPO consisted solely of existing shares, with no fresh issuance, signalling strong investor confidence. BCCL is scheduled to list on Monday.
Beyond rare-earth minerals, Agarwal disclosed that BCCL plans to acquire coking coal mines in Australia and Russia within the next two to three years. This move aligns with India’s broader objective of securing long-term raw material supplies for its steel industry.
He added that BCCL is targeting an increase in its coking coal production capacity to 56 million tonnes per annum by the 2030 fiscal year, up from 40.5 million tonnes per annum recorded at the end of the 2025 fiscal year.
While Agarwal did not specify the African countries under consideration, analysts point to the continent as a key frontier in the global race for rare-earth resources.